February 24, 2009, Single Stock

RIL - Our reversal position was premature. RIL made a lower low and a lower high on Friday, however it was above our stop loss of 1240. Friday was also a doji, indication a strong break out on either side soon. Watch for resistance/support breaks to initiate trades.
Trading Strategy: Close open long if RIL goes below 1240. Play for resistance/support breaks or bounces.
Supports: 1240, 1107
Resistances: 1333, 1414

Infy - Infy hit our stop loss and we booked profits.We will wait and watch for a clear trend to set in.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1115, 1065
Resistances: 1200, 1241